• Bitcoin holders with less than 100 BTC purchased 2.54x of all coins mined last month, according to Glassnode data.
• Shrimps, crabs and fish added 2,286 BTC per day to their total holdings in June 2023, with shrimps increasing their BTC holdings by 117%.
• Whales have seen a 45% decline since Bitcoin’s first halving in 2012, currently holding 34.4% of total BTC supply.
Bitcoin Holders Increase Holdings Despite Price Struggles
Despite the recent struggles in Bitcoin’s price, entities with less than 100 Bitcoins (BTC) were able to scoop up 254 percent of all mined coins last month. According to on-chain data shared by Glassnode, shrimps (less than 1 BTC), crabs (1-10 BTC) and fish (less than 100 BTC) purchased 2.54x of daily mined supply over the past month. This amounted to around 2,286 Bitcoins per day being added to these entities‘ total holdings.
Shrimp Supply Up 117%, Total Supply Now 6.6% Of Circulating Supply
The monthly absorption rate for shrimps was 117%, while crabs added 80% and fish bought 57%. Shrimps now hold 1.26 million Bitcoins—or 6.6 percent of the total circulating supply—up from roughly 4.86 percent a year ago. Crabs account for 2.03 million Bitcoins—10.5 percent of circulating supply—a significant increase from 8.7 percent from a year ago..
Whale Entities See 45% Decline Since Halving In 2012
Meanwhile, the supply held by whale entities continued to decline and stood at 34.4 percent as of June 2023—a 45 percent decline since Bitcoin’s first halving in 2012 when whales accounted for 62.7 percent of total BTC supply . Currently whales hold approximately 6